Rupee rises 26 paise to 70.47 against USD in early trade

DN Bureau

The rupee rebounded from the five month low and appreciated by 26 paise to 70.47 against the US dollar in early trade Tuesday amid positive opening in domestic equity market.

File Photo
File Photo

Mumbai: The rupee rebounded from the five month low and appreciated by 26 paise to 70.47 against the US dollar in early trade Tuesday amid positive opening in domestic equity market.

On Monday, the domestic currency had suffered the biggest single-day drop in past six years -- to close at a five-month low of 70.73, owing to heavy capital outflows by investors anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue.

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The domestic unit pared some gains and was trading at 70.60 against the dollar at 0949 hrs.

Domestic bourses opened on a bullish note on Tuesday with benchmark indices Sensex trading 203.28 points higher at 36,899.02 and Nifty up 66.40 points at 10,929.00.

The 10-year government bond yield was at 6.36 per cent in morning trade.(PTI)

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